Dear Rusty: I turned 62 in October 2018. A few months prior to my birth month, I went on the Social Security website which said my estimated benefits would be between $900-$1,000 at full retirement age and between $600-$700 at age 62. I receive a pension from a city government where I was a firefighter for almost 20 years where I did not pay Social Security tax on my income, but I have over 20 years invested in Social Security from other jobs. I expected the cut in benefits for retiring early (62), but I was totally caught off guard by my benefits being cut in half again because of the Windfall Elimination Provision (WEP). My city pension is about $1,700 monthly, and it’s my understanding that WEP is not supposed to reduce my Social Security by more than half of my government pension. My current Social Security benefit is $348 a month which is considerably less than half of my $1,700 pension. Am I missing something? Shouldn’t I be getting $600-$700 in Social Security benefits? Signed: Retired Firefighter Dear Retired Firefighter: WEP rules are complicated and you certainly aren’t alone in your dismay over how WEP affects Social Security… Read full this story
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RUSSELL GLOOR: Ask Rusty - Retired public servant surprised by ‘WEP’ have 318 words, post on www.chron.com at December 15, 2019. This is cached page on USA Breaking News. If you want remove this page, please contact us.